Lukoil interested in participating in oil projects in Iran

Iran has already signed three memoranda of understanding with Russian oil companies Lukoil, Tatneft and Zarubezhneft.

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'It's extremely important for us to be able to manage some own part of oil'

Lukoil is interested in participating in the projects in Iran if it gets the right to manage a part of oil, but would not agree to exclusively service, Lukoil’s Vice President Leonid Fedun said in an interview with TASS on Dec. 3.

"I am aware, they have drafts of a new oil contract, which is a mixture of production, sharing and buyback," he said. "It is extremely important for us to be able to manage some own part of oil, so that we could include this oil in our assets."

"We are not going to be involved in services only, we have been discussing it with them, and as yet this is what they should decide among themselves," he said, adding Iran had confirmed its interest in having the company work in the republic.

"Vagit (Alekperov - Lukoil’s president - TASS) has met Iran’s oil minister, they confirmed the interest our company participates, as we have a very good reputation as we put operational Qurna in that region," he continued. "I hope very much, if Iran among themselves offers acceptable terms of the oil contract, we shall be pleased to work in that republic."

Earlier Alekperov said that in October-November 2017 Lukoil may sign contracts with Iran on two fields Al-Mansuri and Ab-Teymur. He said that recoverable reserves of each of these fields exceed 1 mln tonnes.

Iran has already signed three memoranda of understanding with Russian oil companies Lukoil, Tatneft and Zarubezhneft.

Earlier a representative of the management of the National Iranian Oil Company (NIOC) Gholamreza Manouchehri said that the Russian companies are potential investors in oil and gas projects in Iran.